Pipe Metallurgical Company’s LDP shipments drop 38.6% in 2008

20 January 2009 (09:41)

Pipe Metallurgical Company (TMK) shipped 3,227,000 tons of steel pipes to its customers last year, which was 5% better than the year before.

Excluding the contribution made by TMK IPSCO, TMK shipped 2,738,000 tons of produce to its customers, which falls short of the figures for 2007 by 11%. The company explains this had to do with a decrease in the seamless pipe production at Taganrog Metallurgical Plant in January-September 2008 because of having to stop using some obsolete machinery and installing the new PQF mill.

‘Besides, our large-diameter pipe shipments dropped by 38.6% because some large-scale pipeline construction projects had been postponed till a later date and the demand for industrial seamless pipes went down by 42% in the last quarter of 2008 compared with 2007,’ TMK reports.

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